The First of Long Island Co. (FLIC) to Issue Quarterly Dividend of $0.21 on October 21st

The First of Long Island Co. (NASDAQ:FLIC) announced a quarterly dividend on Tuesday, October 1st, Zacks reports. Investors of record on Friday, October 11th will be paid a dividend of 0.21 per share by the bank on Monday, October 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date of this dividend is Friday, October 11th.

First of Long Island has raised its dividend by an average of 4.8% per year over the last three years. First of Long Island has a payout ratio of 69.4% meaning its dividend is sufficiently covered by earnings.

First of Long Island Trading Down 0.1 %

Shares of FLIC stock opened at $12.95 on Wednesday. The company has a 50-day moving average of $12.54 and a two-hundred day moving average of $11.21. The firm has a market cap of $291.58 million, a PE ratio of 11.99 and a beta of 0.69. First of Long Island has a 1-year low of $9.30 and a 1-year high of $13.95. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.97 and a quick ratio of 0.97.

First of Long Island (NASDAQ:FLIC) last announced its earnings results on Thursday, July 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. First of Long Island had a return on equity of 5.93% and a net margin of 12.58%. The company had revenue of $45.41 million for the quarter, compared to analyst estimates of $20.90 million. During the same quarter in the previous year, the company earned $0.31 earnings per share.

Insider Buying and Selling at First of Long Island

In related news, Director John Abbott Root Cooper sold 166,633 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $12.70, for a total transaction of $2,116,239.10. Following the completion of the sale, the director now owns 3,453 shares in the company, valued at $43,853.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com initiated coverage on First of Long Island in a research note on Thursday, October 3rd. They set a “hold” rating on the stock. Keefe, Bruyette & Woods upped their target price on shares of First of Long Island from $11.00 to $13.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

First of Long Island Company Profile

The First of Long Island Corporation operates as the holding company for The First National Bank of Long Island that provides financial services to small and medium-sized businesses, professionals, consumers, municipalities, and other organizations. The company offers business and small business checking, personal checking, negotiable order of withdrawal, interest on lawyer, escrow service, rent security, personal and nonpersonal money market, savings, time deposit, and individual retirement accounts.